Cryptocurrency Live News & Updates : Indian Court Denies Bail in $228M Crypto Fraud Case
The Himachal Pradesh High Court has denied bail for Abhishek Sharma, a suspect in a $228 million cryptocurrency fraud that affected over 80,000 investors. In a significant legal development, the Himachal Pradesh High Court has rejected bail for Abhishek Sharma, implicated in a massive $228 million cryptocurrency fraud that deceived over 80,000 investors. The court emphasized the severity of economic crimes and their societal impact, particularly as the main accused, Subhash Sharma, remains at large. Meanwhile, in the U.S., Bo Hines, the executive director of the Council of Advisors on Digital Assets, unexpectedly resigned after just seven months, raising questions about the future of cryptocurrency policy amid ongoing regulatory challenges. In market updates, cryptocurrencies like Pepe, Aptos, and Pi Network are under scrutiny as investors await the U.S. Consumer Price Index report, which could influence Federal Reserve interest rate decisions. Additionally, Chainlink has seen a notable price surge, driven by whale accumulation and a strategic buyback initiative. As the cryptocurrency landscape evolves, these developments highlight the intricate interplay between legal actions, regulatory shifts, and market dynamics, shaping the future of digital assets. Show more
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Economic Times
29 minutes ago
- Economic Times
Bitcoin tumbles from $124K peak — now $118K. What's rattling the crypto market? Key numbers to watch
Agencies Bitcoin hit an all-time high of $124K but has now slipped back to $118K, leaving traders wondering if the rally has paused or if more upside is coming. Bitcoin surged to an all-time high of $124,234 during early trading on August 14, 2025, sending shockwaves through global crypto markets. But the rally was short-lived. At the latest check, Bitcoin had retreated to $118,921, leaving traders questioning whether this is a brief correction or a warning signal for the broader market. The climb marks a 33% gain year-to-date and a staggering 120% rise over the past 12 months, demonstrating continued investor appetite despite heightened volatility. Several factors drove Bitcoin to its record highs: Market optimism over Fed rate cuts: Investors were betting that the Federal Reserve could ease interest rates in September. The U.S. Producer Price Index (PPI) for July, however, showed wholesale inflation jumped 0.9% month-over-month (versus the expected 0.2%) and 3.3% year-over-year (forecast 2.6%), signaling persistent inflation pressures. Core PPI, excluding food and energy, also rose 0.9% MoM and 3.7% YoY . Investors were betting that the Federal Reserve could ease interest rates in September. The U.S. Producer Price Index (PPI) for July, however, showed wholesale inflation jumped (versus the expected 0.2%) and (forecast 2.6%), signaling persistent inflation pressures. Core PPI, excluding food and energy, also rose . Institutional adoption continues: Companies and funds, including Strategy (formerly MicroStrategy) and nations like El Salvador, have been steadily increasing their Bitcoin holdings. ETF approvals and corporate treasury investments are driving demand. Companies and funds, including Strategy (formerly MicroStrategy) and nations like El Salvador, have been steadily increasing their Bitcoin holdings. ETF approvals and corporate treasury investments are driving demand. Speculation around the upcoming halving: Historically, Bitcoin halving events create upward pressure on prices. The next halving is expected in late 2024–2025, prompting speculative positioning. The pullback to $118K reflects profit-taking, short-term volatility, and mixed macroeconomic signals, rather than a collapse in fundamentals. ALSO READ: PPI inflation shock rocks Wall Street and Trump — big Fed rate cut dreams go up in smoke Bitcoin's decline rippled across altcoins. Ether (ETH) flirted with record highs at $4,783 before slipping slightly, marking an 87% gain over the past three months. Solana (SOL) dropped 2.9%, XRP fell 5.1%, and Dogecoin (DOGE) tumbled 7.7%.XRP is holding precariously above the $3.20 threshold after a whipsaw session that saw prices sink to $3.14 before clawing back some ground. Investor attention is also on crypto stocks. Cryptocurrency exchange Bullish soared 84% in its IPO but is now up 8.5% in premarket trading. Meanwhile, 180 Life Sciences—planning to rebrand as ETHZilla—fell 28% premarket, despite heavy Ether purchases. Current Bitcoin price: $118,921 $118,921 Intraday high: $124,234 $124,234 Intraday low: $117,982 These levels act as critical support and resistance points. A dip below $118K could spark further short-term corrections, while reclaiming $124K might indicate the rally is far from over. For seasoned traders, this pullback is an opportunity to evaluate positions, adjust stop losses, or plan strategic entries. Retail investors should exercise caution and avoid chasing peaks. Liquidity, volatility, and macroeconomic cues will likely dictate near-term price swings. The key takeaway: Bitcoin remains highly volatile, but the long-term bullish story is intact, supported by institutional interest, halving expectations, and growing confidence in cryptocurrencies as alternative stores of value. Q: Why did Bitcoin hit $124K and then fall back? A: Bitcoin surged to $124,234 driven by optimism over potential Fed rate cuts, growing institutional adoption, and speculative positioning ahead of the next halving. However, the U.S. July Producer Price Index (PPI) showed wholesale inflation jumped 0.9% month-over-month and 3.3% year-over-year, higher than expected, prompting profit-taking and a pullback to $118,921. Q: How are other cryptocurrencies reacting? A: Altcoins largely mirrored Bitcoin's moves. Ether (ETH) reached $4,783 before slipping slightly, Solana (SOL) dropped 2.9%, XRP fell 5.1%, and Dogecoin (DOGE) tumbled 7.7%, showing strong market correlation. Q: What are the key numbers investors should watch? A: Critical levels include the current BTC price $118,921, intraday high $124,234, and intraday low $117,982. A move below $118K could indicate further short-term correction, while reclaiming $124K may signal continuation of the rally.
Economic Times
31 minutes ago
- Economic Times
Blow to Trump's hopes as he won't like this: Fed's Daly says rate cut unlikely next
Fed interest rate cut September 2025: San Francisco Fed President Mary Daly does not support a large interest rate cut at the next Federal Reserve meeting. She believes the labor market is not weak enough to warrant such a move. This differs from some expectations. US President Donald Trump has been pushing for lower rates. Tired of too many ads? Remove Ads Mary Daly Rules Out Big 50-Basis-Point Cut at September Fed Meeting Fed Official Supports Gradual Policy Shift, Not Rapid Cuts Tired of too many ads? Remove Ads Trump Administration Pushes for Fed Rate Cuts FAQs US president Donald Trump may not be thrilled with the latest signals from the Federal Reserve. San Francisco Fed President Mary Daly has pushed back on the idea of a steep 50-basis-point interest rate cut at the central bank's next meeting, according to a report from The Wall Street said in an interview with WSJ, published on Wednesday, that "Fifty sounds, to me, like we see an urgent — I'm worried it would send off an urgency signal that I don't feel about the strength of the labor market," as quoted in the report. She emphasised that, "I just don't see that. I don't see the need to catch up," as quoted in the WSJ remark strikes a different tone from what some market watchers and policymakers had begun to expect. Since the Fed's decision last month to hold rates steady, more Fed officials have expressed concern over the softening labor market and hinted they may be open to cutting rates, perhaps as early as September, according to a Reuters READ: Fed rate cuts are coming — here's how much the stock market could boom based on history This comes as the US president has been outspoken all year in his push for lower interest rates, as per the report. However, Daly's caution may complicate those expectations. While she has acknowledged that inflation pressures haven't been as persistent and that the job market is cooling, she favors a more gradual approach, according to the Reuters said that "Policy is likely to be too restrictive for where the economy is headed. So for me, that calls for recalibration," as quoted in the report. But she clarified that any shift should move slowly toward a more neutral setting 'over the next year or so,' as quoted by the Reuters READ: Google bets big on Bitcoin: Joins $3.7 billion deal that sends TeraWulf stock soaring 45% The Fed's direction remains a very important issue in Washington, especially as US Treasury Secretary Scott Bessent reportedly continues to press for rate cuts, according to the report. Meanwhile, the administration is also exploring potential replacements for Fed Chair Jerome Powell, with a growing shortlist now up to 11 names, as reported by necessarily. Fed officials are divided, and Mary Daly has said she doesn't see an urgent need for a big rate cut right administration is reportedly considering a replacement, with a list of about 11 potential candidates.
The Print
2 hours ago
- The Print
Next Crypto to Explode: Bitcoin Holds Steady Around $119,300 Amid Mixed Market Sentiment, as AurealOne and BlockDAG Eye 100× Growth!!
Nevertheless, a negative shift in the Coinbase Premium Gap was one of the drivers of the recent decline of Bitcoin from its record values, suggesting that the U.S.-based buyers are not going to buy it anymore and possibly because of those reasons they need to take profit. The technical indicators give good support to this level. The analysts point out a bullish flag pattern , and indicate major support at $117,650 and $118,500 , against resistance at around $123,250 , which preconditions the probability of a potential gain increase in the case those points are maintained. With the current price of Bitcoin being able to steady itself around the $119,300 mark, this proves to be a remarkable consolidation period, one that indicates that investors have taken to this price range well. Previously, the coin surpassed the $120,000 mark, but it was close to its all-time mark of about $123,000, which stands as an indicator of very significant bullish activity. Even macroeconomic dynamics, especially softer-than-hoped U.S. inflation information, increased hope of a Federal Reserve rate cut, and further added to the allure of Bitcoin as a risk-on token. On a structural basis, Bitcoin is gathering strength above major technical indications such as the 50-day basic moving average (SMA), strengthening its strong position. Strong commitment is also observed about futures and options data as the expansive open interest is at $57 billion, indicating the prospect of huge price fluctuations in either direction. Bitcoin holds up very well at $119K-$120K, supported by positive technicals, institutional accumulation and macro fundamental optimism. An upside breakout above the immediate resistance at $123K has the potential to trigger a rally to reach the target at $130K-135K, with the support in the range of between $117K-118K being very important to preserve the bullish bias. While Bitcoin's resilience continues to capture global attention, investors are also scouting for the next high-growth opportunities that could deliver exponential returns — here's a look at the next crypto projects poised to explode. Listed Below are the Next Crypto to Explode in August 2025: AurealOne (DLUME) DexBoss (DEBO) Synthetix (SNX) Skale (SKL) Harmony (ONE) 1. AurealOne (DLUME) AurealOne is transforming the field of competitive gaming, with a Web3 platform. It leverages the $DLUME token, which provides a skill-to-earn approach with more rewards being linked to the performance of the player and not fortune, with the use of its own proprietary Aureal Chain. Click here to visit next crypto to explode – AurealOne Being still in pre-sale Stage 5, AurealOne is already causing a stir in the gaming world. The $DLUME token is valued at approximately $0.0013 and the token is expected to trade between $0.0055 eventually. What really makes AurealOne unique is its ability to be fair and transparent. All the games are replayable, match results written on chain and anti-cheat systems are in place to maintain a fair field among all the participants. 2. DexBoss (DEBO) DexBoss is a Solana-powered trading intelligence platform integrated with the most powerful tools to monitor smart wallets and provide real-time alerts to drive a user towards a rapid reaction to essential developments in the market. With more traders moving toward software that gives them fast information and actionable market intelligence, DexBoss is catching a wave as it is more accurate, easy to operate and has outstanding features among them being the exclusive '100 Wallets Group' feature. It is running now in its 2nd pre-sale stage for $0.0115; it will have 17 rounds of pre-sale in total. Although it is likely to appreciate in value, token value also presents a serious risk as an investment. 3. Synthetix (SNX) Synthetix (SNX) is a decentralised synthetic asset protocol on Ethereum (and Optimism), where users can mint and trade 'Synths', tokens that closely track the price of an underlying real-world asset such as fiat, commodities, or cryptocurrencies, and do so without mediators or order books. The protocol is deeply liquid and low-slippage with its collateral being staked SNX. $SNX holders obtain the rewards as a result of the trading fees and the voting on the upgrades and system parameters. 4. Skale (SKL) Skale (SKL) is the token of the Skale Network, a modularised Ethereum-compatible, Layer-2 scalable solution that gives dynamic sidechains (calling them Elastic Sidechains) with zero gas fees, a high volume of transactions and transactions with low latency to dApps. Its devs can deploy customizable and EVM-ready user-controlled chains compatible with NFTs, games, and storage. The $SKL can be used to stake with the SKL-based validators and delegators, subscribe to the Skale chains and earn rewards. 5. Harmony (ONE) Harmony is a highly scalable Layer-1 blockchain that aims to focus on decentralised applications by adapting random state sharding and a fast fault-tolerant blockchain based on Byzantine consensus (Fast Byzantine Byzantine FBFT). Fast Byzantine FBFT offers 2-second finality on a block and cheap fees. It is secured by its Effective Proof-of-Stake (EPoS) consensus algorithm that promotes fairness in participation of the validators as well as network security. Conclusion! AurealOne is transforming the way the world plays its games offering users immersive game skills in competitions on a global scale. In the meantime, DexBoss is an intuitive trading and wallet service with an instant market connection, real-time wallet monitoring, and trade alert customisation. Both projects are among the rising cryptos with 100× potential. Meanwhile, new token sales such as Synthetix enable DeFi with the creation and trading of synthetic assets, and Skale increases the scalability of Ethereum through elastic sidechains. With the sharding and cross-chain interoperability, Harmony allows speedy and cheap transactions. Editor's Takeaway: The Editor's Pick is BlockDAG (BDAG), and it has a vision that sees it revolutionise the blockchain landscape by utilising the advantages of a directed acyclic graph-based structure to facilitate fast, easy, and scalable transactions. In the meantime, experienced investors are turning toward new projects such as AurealOne and DexBoss, where they are attracted by real usage of them in reality and advanced technology, which makes them some of the next big cryptocurrencies. As is common, it is recommended that the investment decision be accompanied by a lot of research and critical consideration of the risk factors. ThePrint BrandIt content is a paid-for, sponsored article. Journalists of ThePrint are not involved in reporting or writing it.
